[JAlexoid]

That's because US regulatory regime is antiquated. Deposit insurance is a pain, payments take ages and some very old cheque rules still apply to transfers.

As much as these companies would like to be something separate, they are precluded by laws and regulations.

[jnwatson]

That’s what they said about crypto…

[JAlexoid]

All crypto startups use established banks to transfer and hold USD. I don't know of a single all crypto bank in US.

A lot of companies that brand themselves as a "bank" are some regional bank underneath.

(I literally work in the payments industry, for reference)

Ex: One Financial states

> ONE card is issued by Coastal Community Bank

[zokier]

On a glance I'd guess many of the service providers listed in EU are also not proper banks.